MINMETALS RESOURCES

jukido Thu Jul 14, 2011 9:32 am

A Chinese state-owned mining company, MINMETALS RESOURCES, made a C$6.3 billion ($6.5 billion) offer for EQUINOX MINERALS, an Australian-Canadian owner of a large copper mine in Zambia. The unsolicited bid, financed entirely with cash, is the biggest yet for a Chinese mining firm. China consumes around 40% of the world's copper and is concerned about competition for supplies of the metal. Copper's price remains high, though it has slipped by around 5% from February's stratospheric levels.
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